Associates of Blackstone Actual Property have closed on the beforehand introduced Bluerock Residential Progress REIT acquisition for $24.25 per share in an all-cash transaction valued at $3.6 billion.
Bluerock additionally spun off its single-family rental enterprise into an externally managed, actual property funding belief, Bluerock Houses Belief (BHM). BHM started buying and selling on the New York Inventory Trade American this morning.
Barclays and Wells Fargo Securities served as Blackstone’s monetary advisors, and Simpson Thacher & Bartlett LLP as Blackstone’s authorized advisor. Morgan Stanley & Co. LLC and Eastdil Secured LLC served as Bluerock’s lead monetary advisors with BofA Securities additionally serving as an advisor. Wachtell, Lipton, Rosen & Katz, KVCF, PLC, and Vinson & Elkins, LLP served as Bluerock’s authorized counsel.
